Don't let debt swamp your retirement

A friend of mine nearing retirement is looking longingly at a new Harley, but getting financing is going to be a challenge. He's contemplating refinancing his house and using some of the equity to buy the bike.

When he told me that, I didn't say anything, but I guess I didn't have to. My face must have done the talking. My friend is within 10 years of retirement. Unless he hit the lottery recently, he doesn't have a huge amount of savings and his job has been off and on the last year or two while the economy has been so lousy.